Federal Board of Revenue (FBR) extended last date for submission of annual income tax returns up to December 08, 2020. The last date for submission of tax return was 30th September 2020.
The FBR issued notification of extension via Circular No. 04 of 2020 to extend the last date of filing / submission of annual income tax returns for the tax year 2020.
The individuals and association of persons who required to file their income tax returns/statements of final taxation for the tax year 2020 due on September 30, 2020, but failed to file their income tax returns / statements, now allowed to file their return/statements by December 08, 2020.
Further, the companies who required to file returns of total income/statements of final taxation for the tax year 2020, due on September 30, 2020 but failed to file their income tax returns/statements now allowed to file their returns/statements by December 08, 2020.
Last year FBR extended the last date for submission of tax return for tax year 2019 up to 28th February, 2020.
According to current tax laws of Pakistan if any person / business individual / partnership firm or private limited company fails to submit there tax return within due date then they can become active tax filer after submission of tax return with penalty of that year. Currently, penalty of Rs 1,000 , Rs 10,000 and 20,000 are for Individual, Partnership and Private limited companies respectively.
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